Freestanding Flex
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For Sale
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6878 Airport Dr, Riverside, CA 92504
Freestanding flex property with a secured yard, ground-level access, and three-phase power.
Property Size14,128 SF
Price / SF$282.77
Days on Market6
Property Features for 6878 Airport Dr
General Information
Standard status
Active
Size
14,128 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
18 ft
Office Build-Out
1,173 SF
Drive-In Doors
2
Power
400 amps
Voltage
480 V
Three-Phase Power
Yes
Additional Details
Fenced Yard
Yes
Listing Agency:
Voit Real Estate Services
(949) 851-5100
Listed By:
Garrett McClelland
(714) 747-4946
Source:
Moodyscre
Added: Sep 8
Changed: Sep 12
Last Checked: Sep 13 at 5:03AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Voit Real Estate Services
Investment Insights
Based on property information with market context.
This freestanding flex building offers 14,128 square feet with a 1,173-square-foot, single-story office area. The property includes an 18-foot minimum clear height, two ground-level doors, and a secured yard area for operational use.
Electrical service includes 400 amps at 277/480 volts with three-phase power. The property is located at 6878 Airport Dr in Riverside, California, providing a combination of office space, warehouse functionality, access, and secured outdoor area.
Electrical service includes 400 amps at 277/480 volts with three-phase power. The property is located at 6878 Airport Dr in Riverside, California, providing a combination of office space, warehouse functionality, access, and secured outdoor area.
Key Highlights
- 14,128‑square‑foot freestanding flex building
- 1,173 SF single‑story office area
- 18' minimum height clearance
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$217,109
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,342,180
$4.3M
Cap Rate 7%
$3,101,557
$3.1M
Cap Rate 9%
$2,412,322
$2.4M
Market Conditions
NOI Build-Up for 14,128 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$262.8K $18.60/SF
− Vacancy
−$7.4K −$0.52/SF
EGI
$255.4K $18.08/SF
− OpEx
−$38.3K −$2.71/SF
NOI
$217.1K $15.37/SF
Area
ZIP 92504
Vacancy
2.80%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,342,180
Cap Rate 7%
$3,101,557
Cap Rate 9%
$2,412,322
Alternative Uses
Best Use
Warehouse
$3.10M
$2.71M – $3.62M
NOI $217,109 @ 7.0% cap · market cap 5.43%
Second Best
Flex RnD
$2.73M
$2.39M – $3.19M
NOI $191,415 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$4.84M
$4.24M – $5.65M
NOI $338,930 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
18 ft
Clear height
2
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
827
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 92504, CA
54,642
Population
17,038
Households
3.2
Avg Household Size
36
Median Age
21%
College-Educated
82%
High-School Grad
22.7 sq mi
ZIP Area
2,407
Density / Sq Mi
$88,168
Median Household Income
$39,539
Median Earnings
$1,758
Median Rent
$501,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
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Similar Off Market Nearby
- Chubb's Grubb — 6611 Arlington Ave # M, Riverside, CA 92504
Frequently Asked Questions
What type of property is this?
Flex space - Freestanding flex property with a secured yard, ground-level access, and three-phase power.
Where is this flex space located?
The property is located at 6878 Airport Dr Riverside, CA.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: 14,128‑square‑foot freestanding flex building; 1,173 SF single‑story office area; 18' minimum height clearance
